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    Home » Wall Street Claims Teslas Golden Age is Yet to Come
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    Wall Street Claims Teslas Golden Age is Yet to Come

    By adminJul. 4, 2024No Comments2 Mins Read
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    Wall Street Claims Teslas Golden Age is Yet to Come
    Wall Street Claims Teslas Golden Age is Yet to Come
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    After experiencing volatility in Tesla’s stock price and legal controversies surrounding Musk, Wall Street analysts suggest the electric vehicle company may be poised for a comeback.

    Investors have been eyeing a potential recovery for over a year, despite Tesla’s sales declining by 15% over the past 12 months. While deliveries decreased for the second consecutive quarter, they exceeded analysts’ expectations at 443,956 units compared to an expected 436,000.

    These figures indicate a brighter future for Tesla, especially as Musk addresses his compensation issues and investors focus on advancements in artificial intelligence. Morgan Stanley analysts noted that concerns over Musk’s 2018 compensation package, which could potentially lead to management changes, have shifted towards positive catalysts for Tesla’s second-quarter results and beyond.

    During the second quarter, Tesla also reduced its inventory and achieved record highs in energy storage. This growth positions Tesla to capitalize on the increasing demand for energy driven by the artificial intelligence boom.

    Morgan Stanley reaffirmed its rating on Tesla shares with a target price of $310, implying a potential 30% increase. Garrett Nelson, Senior Equity Analyst at CFRA Research, mentioned that the stock has gained momentum since mid-June. He believes Musk has successfully redirected investors’ focus towards long-term opportunities in AI, robotics, and energy storage.

    CFRA maintains its “Buy” rating and raised its target price to $250 per share. Other analysts, like Keith Fitzgerald, forecast that Tesla’s shares could double or triple in the coming years, highlighting its potential as an undervalued company in the AI sector.

    Dan Ives of Wedbush Securities views the launch of Robotaxi as a key moment for Tesla, potentially driving shares up to $400 by year-end, implying a 63% increase from current levels.

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